Carnival Corporation reported a significant increase in financial performance for the quarter ended May 31, 2024. The company's passenger ticket revenues surged by 20% to $3.8 billion from $3.1 billion in the same period last year, driven by a 5.4% increase in Available Lower Berth Days (ALBDs) and a 5.6 percentage point increase in occupancy. Onboard and other revenues also rose by 15% to $2.0 billion. The North American and Australian (NAA) segment saw a 21% increase in passenger ticket revenues, while the Europe segment experienced a 17% rise. Operating income for the quarter improved dramatically to $560 million, a $440 million increase from the previous year's $120 million. Interest expenses decreased by 17% due to lower total debt and interest rates. The company's liquidity stood at $4.6 billion, including cash and available...Show More

Carnival Corporation reported a significant increase in financial performance for the quarter ended May 31, 2024. The company's passenger ticket revenues surged by 20% to $3.8 billion from $3.1 billion in the same period last year, driven by a 5.4% increase in Available Lower Berth Days (ALBDs) and a 5.6 percentage point increase in occupancy. Onboard and other revenues also rose by 15% to $2.0 billion. The North American and Australian (NAA) segment saw a 21% increase in passenger ticket revenues, while the Europe segment experienced a 17% rise. Operating income for the quarter improved dramatically to $560 million, a $440 million increase from the previous year's $120 million. Interest expenses decreased by 17% due to lower total debt and interest rates. The company's liquidity stood at $4.6 billion, including cash and available borrowings. Carnival highlighted several risks that could impact future results, such as geopolitical events, pandemics, and climate change regulations. The company also noted the potential impact of a global minimum tax and the EU ETS on its financials. Despite these challenges, Carnival's increased capacity and demand for cruises have led to a robust quarter. The company continues to focus on strategic initiatives to enhance its financial health and operational flexibility.